Abdullah A. M. Al-Khodari Sons Co.’s board of directors has invited shareholders to attend a presentation on the company’s restructuring plan on Sept. 9, 2019, the company said in a bourse statement.

 

Shareholders will be briefed on the financial restructuring procedure (FRP), according to Saudi bankruptcy law and the current status of the FRP with the role of the court-appointed trustee. 

 

The FRP timeline and restructuring options will be also discussed. 

 

“The outcome of this presentation will be announced in due time,” the Saudi contractor added.

 

On July 1, Dammam commercial court issued a ruling on initiating the company's financial restructuring under Saudi Arabia’s new bankruptcy law, Argaam reported.

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